The bottom line on oil...Tight supply + very healthy demand equates to a higher price for oil.
Right now, the majority of oil & gas stocks are ripe with an abundance of FCF and the majority of the oil/gas stocks are mispriced to the lower side.
According to all accounts, it appears that SGY and other oil stocks are being priced at around $60. When investors finally realize that $100+ oil is going to be around for some time, prices for SGY and others will re-rate and command a much higher stock price.